GB Final MC Part 1: Question Preview (ID: 24421)

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A global dependency exists when
a) all of these
b) massive crop failures require buying food from another country
c) a country buys tools from another country because it does not have the technology to make the tools
d) doctors travel to another country to provide healthcare because there is a shortage of doctors in that country

All of the following are benefits of international business except
a) decreased competition
b) expanded businesses opportunities
c) increased sources of raw materials
d) improved political relationships

Business activities that occur within one country are called
a) domestic business
b) foreign trade
c) international business
d) free trade

An example of a trade barrier would be
a) a limit on the number of foreign automobiles a country allows to be imported
b) a sales tax on products made and sold within a country
c) efforts by a government to encourage exporting among businesses in its country
d) consumers who prefer to buy products from domestic companies rather than foreign companies

A cultural factor affecting international business activities would be
a) family relationships
b) stability of the money supply
c) government policies toward business
d) the availability of natural resources

International business most commonly affects consumers by creating
a) a greater variety of buying choices
b) fewer buying decisions
c) a change in taxes
d) fewer stores to shop in

Economics is the study of how
a) limited resources are used to satisfy unlimited wants and needs
b) decisions are made using six steps
c) individuals make decisions about buying products
d) none of these

After you take action on a choice in the decision-making process, it is important to review the decision because
a) all of these
b) changed circumstances may require a change in decision
c) a different decision may need to be made
d) you may have made an error in defining the original problem

Private property, profit motive, and a free, competitive marketplace are characteristics of a
a) market economy
b) command economy
c) mixed economy
d) none of these

The unemployment rate is an indicator of a country's economic situation because
a) all of these
b) people not earning an income reduce the flow of money in circulation
c) fewer goods and service are produced when there is high unemployment
d) a high unemployment rate can cause other people to lose their job

As demand for a product increases, prices tend to
a) rise
b) fall
c) remain constant
d) first decline, then rise

Of the following choices, the one that is not a characteristic of a culture is that it is
a) always written down
b) learned
c) unifying
d) shared

High-context communication is typical in
a) Japan
b) the United States
c) Canada
d) Germany

In a culture with strong business and family ties
a) all of these
b) several members of a family may work in the same business
c) family members are usually promoted first in a family-owned business
d) protecting a family member is sometime more important than a good business decision

Member of a society are most likely to have good educational opportunities in
a) an industrialized economy
b) a developing country
c) a less-developed country
d) none of these

Of the following characteristics, the one that is not characteristic of a democratic system is that
a) the economy is usually a command economy
b) individuals can build a small business into a very large business
c) individuals have the freedom to own and operate a private business
d) individuals may travel freely to other countries

A multinational enterprise is not acting with social responsibility if it
a) hires all employees from the home country labor force
b) installs anti-pollution controls more powerful than required by law
c) hires host-country citizens and provides training
d) introduces new products that support dominant religious beliefs of the host country

Governments encourage and promote its country's exports primarily because
a) exports create jobs and foster economic prosperity
b) exports increase the country's international image and reputation
c) exports increase government revenues through selling export insurance
d) none of these

A tax that can be used as a trade barrier is the
a) import duty tax
b) value-added tax
c) excise tax
d) personal income tax

Protectionism occurs when
a) governments establish trade barriers
b) one company is granted a tax holiday
c) a country is granted most favored nation status
d) governments encourage international trade

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